Response Paper Essay Example | Topics and Well Written Essays - 250 words - 10

Response Paper - Essay Example The author’s argument on debts is valid from a moral perspective but not from a legal perspective. Moral values such as beneficence and nonmaleficence require that actions result in benefits or at least minimize harms to people and offering credits that can increase economic burdens on borrowers fails the morality test. Similarly, a utilitarian perspective to ethics requires optimal benefits. The relative number of lenders and borrowers, however, identifies concentration of benefits in the hands of a few individuals while majority borrowers bear the burden of refinancing loans and even consequences of defaults. A legal perspective, however, identifies equal responsibilities between lenders and borrowers because of their roles in creating contracts; and this is consistent with deontology ethics. Credits are, therefore, legal as long as both parties consent to it and though resistance to credit may be necessary, especially to protect vulnerable populations, awareness among the p opulation and social bargaining is the most suitable approach because it is likely to induce moral soundness in the credit system that is based on legal frameworks and profit motive (Ross